Tuesday, August 31, 2010

Voracious and out of control Finance Capitalists: coming to devour the public sector next

Producing nothing of real value, fatally hooked on ever-mounting rates of return, simultaneously divorced from and a parasite on the “real” economy, and with the executive and legislative branches in their pockets, the Lords of Capital are set to devour the entirety of the public sector – while forcing the public to finance the feast. The rallying cry is “austerity,” but the motivation is not, as New York Times columnist Paul Krugman maintains, ideological. Rather, it is hunger.

Finance capital is, at this stage of the system’s decline, incapable of reproducing itself through productive investment, and so must feed on existing producers or on the State. Since Wall Street over the decades has already broken up, consumed and exported much of the U.S. productive economy, that leaves the State and all of its parts. Far from acting as a brake on his vampire friends, Obama leads the charge on corporate hijacking of public education, and signaled in January 2009 that all elements of the safety net, including Social Security, should be “on the table” – which can only mean some form of privatization.

Scary stuff.

Read entire article here. Then, get ready to fight!


Tom Hickey said...

I'm afraid it's going to take Dem defeats in '10 and '12 to fire up the left. Maybe this will result in the rise of a real left alternative to the Tea Party. So far the base is cutting the establishment way too much slack, and the establishment is hanging the party as a whole with the extra rope.

I'm afraid that Randy Wray's satirical scenario is in the process of being played out.

mike norman said...


The left doesn't seem to have the stomach to fight. They also do not understand the correct paradigm. They are easily put on the defensive by Conservatives because the left always says they want to do all this great social progress and investment, but then they follow that up by saying that they will need to raise taxes to do it. It just doesn't fly with the electorate. Even if those taxes are on the rich.

googleheim said...

Yes, we need a libertarian left wing variant which is ANTI-AUSTRIAN SCHOOL ...

Perhaps if the left started the spending machine to create assets and pursued a really strong dollar policy that would bring foreign entities over here to create assets too.

Definitely need an alternative to closet case libertarians and Tea Party know-it-alls.

googleheim said...

Heinz ( ketchup ), Coke, McDonald's and so on - they all get their profit from strong foreign markets whose currencies are stronger than the dollar.

Attack the corporations' taxes and not individuals themselves especially individuals who do not work for the multinationals.

That would satisfy the Tea party dopes, Libertarian austerity flip flops, AND the left wingers.

True tea partiers work for themselves right ?

They could NEVER be like the KOCH brothers who spend a lot of money against universal healthcare and then turn around and seek to milk it for themselves ?????